How to help lenders win new customers through the broker channel
Although mortgage distribution in Canada is undergoing another paradigm shift, this does not spell the end of the Canadian mortgage brokerage channel. Contrary to the U.S. market, the Canadian broker channel is stable and established. In 2009, brokers represented 38% of total originations including 44% of first-time home buyers. While medium-term growth prospects are expected to be modest, the broker channel remains a fixture in the Canadian mortgage distribution landscape – and a meaningful source of revenue for lenders.
To help lenders better position themselves for this opportunity, Deloitte prepared a report entitled Winning Strategies in the brokered mortgage marketplace. In it, you will find details of various strategies lenders must address in the coming years to benefit from participation in the broker channel;
- Determining the appropriate “shelf” or selection of products
- Making strategic investments in coverage and technology
- Focusing on profitable relationships and
- Maximizing franchising opportunities
For further insight on this issue, download the report here.
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Deloitte & Touche LLP, an Ontario Limited Liability Partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited, which is a network of member firms, each of which is a legally separate and independent entity. In Quebec, Deloitte operates as Samson Bélair/Deloitte & Touche.
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